Adi Godrej chairman emeritus in major reshuffle at Godrej Properties

Pirojsha Godrej to be new executive chairman and Mohit Malhotra to be new MD and CEO

Godrej Properties, the real estate development arm of Godrej Group, on Thursday announced changes in its top management. 

The company's chairman Adi Godrej will assume the chairman emeritus position at Godrej Properties (GPL). Pirojsha Godrej, currently the managing director(MD) and chief executive officer (CEO) will be the executive chairman. Mohit Malhotra, currently an executive director at Godrej Properties, will be the new MD and CEO, it said.

Pirojsha, son of Adi Godrej, joined Godrej Properties in 2004 and has been MD and CEO since 2012. Mohit joined Godrej Properties in 2010. He first headed business development for the company and has since taken on larger leadership responsibilities that currently include heading Godrej Properties's pan-India operations. Mohit was appointed to Godrej Properties's board of directors as an executive director in 2015.

Prior to joining Godrej, Mohit has worked in several leading companies in the FMCG, private equity, and real estate development space. Mohit holds a Post Graduate Diploma (PGDM) from the Indian Institute of Management, Calcutta and a Bachelor's degree in Mechanical Engineering from the Thapar Institute of Engineering & Technology.

Karan Bolaria, who currently heads Godrej Fund Management, a subsidiary of Godrej Properties, will be appointed as its CEO. Karan has worked with Godrej Properties since 2008 in various leadership roles and was responsible for setting up the company's investment platforms with leading global institutional investors.

"In his new role, Karan will drive Godrej Fund Management's growth efforts and will continue to report to Pirojsha," Godrej Properties said.

All the changes will be effective from April 1st, 2017.

Adi Godrej, Chairman, Godrej Group, said: "Pirojsha, Mohit, and the Godrej Properties team have delivered tremendous results in a difficult market environment and I'm sure will lead the company to new heights. There will be many exciting opportunities in the Indian real estate space in the coming decades and the leadership team at Godrej Properties is well placed to capture these opportunities and successfully build an outstanding company."